Renmoney is a leading Microfinance bank in Lagos Nigeria. In Nigeria, Renmoney is reputable for giving loans without collateral or guarantors to Nigerians with flexible repayment options. This has endeared the brand to Small and Medium-Sized Enterprises (SMEs) and startup entrepreneurs in the country. Individuals with need for personal loans have been able to count on Renmoney.
Starting from 2012, the company have been providing personal and business loans to Nigerians. It is estimated that over 200, 000 loans have been provided by this Microfinance bank alone.
Renmoney loan requirement
Depending on how much you need, to get a loan, you must meet all or some of the following criteria:
- You must have an active bank account with any commercial bank in Nigeria
- Have a well paying job or a sustainable business
- You should be between 22 and 59 years
- Be able to verify your monthly salary (income)
- Your Credit Bureau Report should be clean
- You should be able to provide statement of your bank account for up to six months. There should be no issues of returned cheque.
- You should be able to provide a recent passport photo
- Make sure you have a Staff Identity from where you work
- Have a Tax or Pension identification number
- Have a Valid ID that can prove your identity
- You may need a letter from the Human Resource of your company
- You should be able to present utility bills
- Reside and work or do business in Lagos
How to get a loan from Renmoney
Follow these steps to get a loan from Renmoney:
1. Visit the website
The fastest and easiest way is to visit the website and apply for loan there.
2. Complete the application form
On the website, make sure you fill and complete the loan application form
3. Upload your documents
The next step is to upload all the required documents that should include, your ID, proof of address and bank statement.
4. Wait for your loan
All you can do is wait a bit. if your loan is approved, you will get in in 24 hours or less. Check your email!
5. Visit any of its branches
Alternatively, you can visit any of its branches if you prefer not to apply online. See list of branches below as you read on.
How much can you get?
You can get a loan from ₦50, 000 to ₦4 million naira within 24 hours from Ren Money.
Renmoney interest rate
The interest rate depends on your repayment choice. The longer the repayment, the bigger the interest rate. For a full year repayment the interest rate can be up to 33.9%. But if you are paying back in 6 months or 3 months or even a month, it should be much lesser.
Repayment of loan
There are many repayment options. You can choose to pay back in a month or two. You can even spread it across 12 months!
To pay back is easy. You can repay using Quickteller. Simply to to the Ren money Quickteller portal
Renmoney loan calculator
You can use the online loan calculator to understand your loan and the interest you will pay before applying. It is free to use. Using the calculator does not mean you commit to taking any loan. Just use it to know how much you pay back over a certain period of time if you borrow a certain amount. All you have to do is visit the loan calculator
RenMoney Head office Address
Registered as Renmoney MFB Limited, the Head office is located at 23, Awolowo Road Ikoyi, Lagos, Nigeria.
Here are the branches of Ren Money:
27-29 Odunlami Street, Marina
Pentagon Plaza, 23 Opebi Road, Ikeja.
F61 & F62 Road 3, Ikota Shopping Complex, Ikota, Lekki-Ajah.
Kings Plaza, 80, Adeniran Ogunsanya Street, Surulere.
RenMoney customer care phone number and email
The customer care number is 0700 5000 500 or 0700 73666639
The email contact is firstname.lastname@example.org